Feedback Economics
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Feedback Economics
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Author : Robert Y. Cavana
language : en
Publisher: Springer Nature
Release Date : 2021-06-30
Feedback Economics written by Robert Y. Cavana and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-06-30 with Business & Economics categories.
This book approaches economic problems from a systems thinking and feedback perspective. By introducing system dynamics methods (including qualitative and quantitative techniques) and computer simulation models, the respective contributions apply feedback analysis and dynamic simulation modeling to important local, national, and global economics issues and concerns. Topics covered include: an introduction to macro modeling using a system dynamics framework; a system dynamics translation of the Phillips machine; a re-examination of classical economic theories from a feedback perspective; analyses of important social, ecological, and resource issues; the development of a biophysical economics module for global modelling; contributions to monetary and financial economics; analyses of macroeconomic growth, income distribution and alternative theories of well-being; and a re-examination of scenario macro modeling. The contributions also examine the philosophical differences between the economics and system dynamics communities in an effort to bridge existing gaps and compare methods. Many models and other supporting information are provided as online supplementary files. Consequently, the book appeals to students and scholars in economics, as well as to practitioners and policy analysts interested in using systems thinking and system dynamics modeling to understand and improve economic systems around the world. "Clearly, there is much space for more collaboration between the advocates of post-Keynesian economics and system dynamics! More generally, I would like to recommend this book to all scholars and practitioners interested in exploring the interface and synergies between economics, system dynamics, and feedback thinking." Comments in the Foreword by Marc Lavoie, Emeritus Professor, University of Ottawa and University of Sorbonne Paris Nord
False Feedback In Economics
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Author : Andrin Spescha
language : en
Publisher: Routledge
Release Date : 2021-07-21
False Feedback In Economics written by Andrin Spescha and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-07-21 with Business & Economics categories.
This book investigates why economics makes less visible progress over time than scientific fields with a strong practical component, where interactions with physical technologies play a key role. The thesis of the book is that the main impediment to progress in economics is "false feedback", which it defines as the false result of an empirical study, such as empirical evidence produced by a statistical model that violates some of its assumptions. In contrast to scientific fields that work with physical technologies, false feedback is hard to recognize in economics. Economists thus have difficulties knowing where they stand in their inquiries, and false feedback will regularly lead them in the wrong directions. The book searches for the reasons behind the emergence of false feedback. It thereby contributes to a wider discussion in the field of metascience about the practices of researchers when pursuing their daily business. The book thus offers a case study of metascience for the field of empirical economics. The main strength of the book are the numerous smaller insights it provides throughout. The book delves into deep discussions of various theoretical issues, which it illustrates by many applied examples and a wide array of references, especially to philosophy of science. The book puts flesh on complicated and often abstract subjects, particularly when it comes to controversial topics such as p-hacking. The reader gains an understanding of the main challenges present in empirical economic research and also the possible solutions. The main audience of the book are all applied researchers working with data and, in particular, those who have found certain aspects of their research practice problematic.
Feedback
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Author : David Andrew Kendrick
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Feedback written by David Andrew Kendrick and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
In the past fifteen years a new field of research has emerged in economics: the application of control theory methods to macroeconomics and to microeconomics. The papers and books which have resulted from this research are important to the development of theoretical and applied economics. However, they are inaccessible to many with interest in economics because of the technical nature of the discussion. This book attempts to make the macro economic portion of this literature more accessible by providing a discussion of the key issues using words and figures rather than mathematical symbols. I would like to thank my mentors and colleagues in control theory and economics for their help over the years: Masanao Aoki, Michael Athans, Yaakov Bar-Shalom, Jeremy Bray, Arthur Bryson, Gregory Chow, Ray Fair, Laurie Henrikson, David Livesey, Raman Mehra, Alfred Norman, Robert Pindyck, Franklin Shupp, John Taylor, Lance Taylor, Peter Tinsley, Edison Tse, and Stephen Turnovsky.
Learning In Economic Systems With Expectations Feedback
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Author : Jan Wenzelburger
language : en
Publisher: Springer Science & Business Media
Release Date : 2006-09-22
Learning In Economic Systems With Expectations Feedback written by Jan Wenzelburger and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-09-22 with Business & Economics categories.
Recently economists have more and more focussed on scenarios in which agents' views of the world may be erroneous. These notes introduce the concept of perfect forecasting rules which provide best least-squares predictions along the evolution of an economic system. The framework for nonparametric adaptive learning schemes is developed and it is argued that plausible learning schemes should aim at estimating a perfect forecasting rule taking into account the correct feedback structure of an economy. A link is provided between the traditional rational-expectations view and recent behavioristic approaches.
Feedback
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Author : David Andrew Kendrick
language : en
Publisher:
Release Date : 1988-02-29
Feedback written by David Andrew Kendrick and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988-02-29 with categories.
Spillover And Feedback Effects In Low Carbon Development
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Author : Youguo Zhang
language : en
Publisher: Springer Nature
Release Date : 2021-10-25
Spillover And Feedback Effects In Low Carbon Development written by Youguo Zhang and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-10-25 with Business & Economics categories.
This book studies the pathways and policies of regional coordinated low carbon development from the perspective of regional spillover-feedback effects. How do regional economies interact with carbon emission? This phenomena, also known as spillover-feedback effects, is explained in depth with reference to datasets and real examples. As China adopts zero-carbon emissions policies within the context of regional disparities, this theoretical construct is gaining utility, and in this book, climate science researchers and political scientists will find it explicated as never before.
The 21st Century Case For A Managed Economy
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Author : Sean Harkin
language : en
Publisher: Harriman House Limited
Release Date : 2010
The 21st Century Case For A Managed Economy written by Sean Harkin and has been published by Harriman House Limited this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Business & Economics categories.
In this work, Harkin applies the concept of feedback to economic theory and economic policy. The author supports the common-sense idea that a well-functioning economy requires a mixed economic system in which the role of the state is almost as great as that of the market.
Data Analysis For Business Economics And Policy
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Author : Gábor Békés
language : en
Publisher: Cambridge University Press
Release Date : 2021-05-06
Data Analysis For Business Economics And Policy written by Gábor Békés and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-05-06 with Business & Economics categories.
A comprehensive textbook on data analysis for business, applied economics and public policy that uses case studies with real-world data.
Reflexivity And Economics
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Author : John B. Davis
language : en
Publisher: Routledge
Release Date : 2018-04-19
Reflexivity And Economics written by John B. Davis and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-04-19 with Business & Economics categories.
The form of ‘reflexivity’ – defined by the dictionary as that which is ‘directed back upon itself’ – that is most relevant to economic methodology is that where observation of the economy leads to ideas that change behavior, which in turn changes (is directed back upon) the economy itself. As George Soros explains: "if investors believe that markets are efficient then that belief will change the way they invest, and that in turn will change the nature of the markets they are observing ... That is the principle of reflexivity". Although various versions of reflexivity have long been discussed, in recent years George Soros has been particularly effective in bringing ideas about reflexivity to the attention of the economic and financial communities. In a series of writings he has systematically argued that reflexivity is not only an important aspect of economic life, it is an aspect that is neglected in most mainstream theorizing; and in addition, that the neglect of reflexivity has been responsible for the failure of economists to predict, explain, or offer a solution for events such as the recent financial crisis. Soros’ ideas about reflexivity have important methodological significance, and his chapter in this book summarizes and clarifies his arguments. His contribution is joined by those of thirteen scholars from a wide range of relevant fields, who provide a commentary on the idea of reflexivity in economics. This book was originally published as a special issue of The Journal of Economic Methodology.
The Economic Effects Of Fiscal Consolidation With Debt Feedback
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Author : Mr.Marcello M. Estevão
language : en
Publisher: International Monetary Fund
Release Date : 2013-05-31
The Economic Effects Of Fiscal Consolidation With Debt Feedback written by Mr.Marcello M. Estevão and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-05-31 with Business & Economics categories.
The past several years of recession and slow recovery have raised much interest on the effect of fiscal stimulus on economic activity, even as high public debts in many countries would call for fiscal consolidation. To evaluate the delicate balance between stimulus and consolidation requires measuring the size of fiscal multipliers, which often depends on having quarterly data so that exogenous fiscal policy shocks can be identified. We estimate fiscal multipliers using a novel methodology for identifying fiscal shocks within a structural vector autoregressive approach using annual data while controling for debt feedback effects. The estimation focuses on regions with scarce quarterly data (mostly low-income countries), and uses results for advanced economies, emerging market countries, and other broad groupings for which alternative estimates are available to validate the methodology. Differently from advanced and emerging market economies, fiscal consolidation in low-income countries has only a small temporary negative effect on growth while raising medium-term output. Shifting the composition of public spending toward capital expenditure further supports long-run growth.